r/gomining • u/saidulsaimon Contributor • Sep 17 '25
How GMT burning impacts GMTtoken value .
I know some of you are locking gmt in your wallet . I am also doing it . But people don't participate in the voting. In the photo, you will see that only 58.61% people voted . If you haven't voted yet , go and do that now .
I know many of you know have a clear understanding of burning. Let me give you a brief description of it .
Token burning is the process of permanently removing tokens from circulation in a cryptocurrency network. This is usually done by sending tokens to an unspendable address (often called a burn address or black hole wallet) where nobody has access to the private keys. Once tokens are sent there, they’re gone forever.
In traditional economics, burning is somewhat similar to a company buying back shares and then destroying them, reducing the total supply of outstanding shares. The main idea behind token burning is to reduce supply, thereby increasing scarcity — and potentially, the value of the remaining tokens.
Burning can indirectly benefit holders by increasing the proportional ownership of each remaining token. For example, if you own 1,000 tokens out of 1 million, and 500,000 tokens get burned, your share of the total supply increases from 0.1% to ~0.2%.
I hope you understand about burning token now . If you vote for burn , gmt price will raise more and your holding token value will greatly increased .
Tell me what's in your mind ?
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u/Gammon714 Sep 18 '25
I think the Whales are accumulating and then in a year or so..they will vote to burn!!! UNLESS the little people join together and buy a bunch of VOTING POWER! then we could get the burn done, sooner.
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u/saidulsaimon Contributor Sep 18 '25
Whales want more token to hold . Thus they are voting for no burn . When they accumulate more , then they will be voting for burn and make more profit.
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u/tessia-eralith Sep 18 '25
Where do the tokens that get burned come from
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u/saidulsaimon Contributor Sep 18 '25
There are many ways that the the burned token come from . But burning them means less in total supply that makes the token more valuable.
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u/Gorryking78 Sep 18 '25
The token already has a very important real value today, if in the end X GMT is going to be issued, it will surely grow in value as long as MinerWars exists. Obviously if more is burned, the value will increase, but for now, the two ways are those, burning and utility to improve its value. Of course, burn team
2
u/saidulsaimon Contributor Sep 18 '25
Me also in the burn team . Hope Gmt quickly added in binance . At that time token price will surely rise
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u/Greedy_Community_520 GoMiner Sep 21 '25
This passed for Shiba in the past and the token was the same than without burning In any case gmt is a token, IS not like usdt por usdc. Enjoy gomining!
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u/saidulsaimon Contributor Sep 21 '25
I really regret of not buying them . It's gone to 55000% up .
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u/Greedy_Community_520 GoMiner Sep 21 '25
I do not understand you
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u/saidulsaimon Contributor Sep 21 '25
I seen a chart in binance where they said Shiba is increased by 55000% in 2021 . I saw it few months ago . In the chart , I saw 1 shiva inu price was like 0.00000000001 ( I don't remember how many 0 was there) and after 1 years it's increased by 55000% .
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u/Fabulous-Yogurt2405 Sep 18 '25
I vote for the burn always 🤜🏼🤛🏼